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"It swallowed up several rivals that have themselves filed for Bankruptcy protection, including FAO Schwarz and Kay Bee Toys, a mall-based chain that liquidated hundreds of stores before it was sold.

It was late to develop and expand its e-commerce business and placed big bets on licensed toys for "Star Wars" and Lego movies that missed expectations."

Marshal Cohen, chief retail analyst for The NPD Group , told Yuki that brick-and-mortar stores aren't just competing with rivals; their sales are being cannibalized by their own online operations, where profit margins are thinner.

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Toys 'R' Us files for bankruptcy amid struggle to pay down billions in debtWashington Post